Kobi Altman
About Kobi Altman
Kobi Altman, 56, is nominated for election as an independent director at VPG’s 2025 Annual Meeting; he is currently CFO of Remilk Limited (since May 2022) and previously EVP & CFO of ICL Group, with prior senior finance roles at Teva Pharmaceuticals (CFO of Teva Generics) and Amdocs; he holds undergraduate and master’s degrees from Bar-Ilan University and is a Certified Public Accountant . Upon election, he will qualify as an independent director under NYSE standards; he has not yet served on VPG’s Board (no tenure or 2024 attendance applicable) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Remilk Limited | Chief Financial Officer | May 2022–present | Senior finance leadership in a global industrial/food-tech company |
| ICL Group Ltd. | Executive Vice President & Chief Financial Officer | Not specified; prior to Remilk | Led finance at a global specialty minerals company |
| Teva Pharmaceuticals Ltd. | Various executive finance roles; CFO, Teva Generics | Nine years; latest role as CFO of Teva Generics (a ~$10B unit) | P&L oversight and scale manufacturing finance |
| Amdocs Ltd. | Financial managerial roles (US & Israel) | Not specified | Enterprise software/services finance |
External Roles
| Organization | Role | Public Company Board? | Committees |
|---|---|---|---|
| None disclosed | — | No public company directorships disclosed for Altman | — |
Board Governance
- Independence: The Board concluded multiple directors qualify as independent and stated that upon election, Kobi Altman will qualify as an independent director .
- Board activity and attendance: The Board met six times in 2024; each director met at least 75% attendance, and directors are expected to attend annual meetings (Altman did not serve in 2024) .
- Committee structure: All three Board committees are composed entirely of independent directors; current chairs are Audit (Saul Reibstein), Compensation (Janet Clarke), and Nominating & Corporate Governance (Timothy Talbert), with Talbert presiding executive sessions per governance principles .
- Committee composition (2024 reference): See table below for context (Altman was not a member in 2024) .
| Committee | Chair | Members (illustrative from 2024) |
|---|---|---|
| Audit | Saul Reibstein | Reibstein (Chair), Talbert, Clarke (financial literacy satisfied) |
| Compensation | Janet Clarke | Clarke (Chair), Talbert, Gulati |
| Nominating & Corporate Governance | Timothy Talbert | Talbert (Chair), Reibstein, Lerner |
Fixed Compensation
- Director cash retainers: Under the 2017 Non‑Employee Director Compensation Plan (NEDC Plan), non‑employee directors receive $50,000 annual retainer (Chairman $110,000); committee chairs receive $15,000 (Audit) and $10,000 (Compensation, Nominating & Governance) .
- Equity compensation: Non‑employee directors were granted RSUs worth $80,000 upon election at the 2024 annual meeting, sized by a 5‑day average closing price; RSUs vest on the earlier of the next annual meeting or May 21, 2025, subject to continued service; mid‑year appointees receive pro‑rated grants vesting at the first annual meeting following grant .
| Component | Amount/Terms | Notes |
|---|---|---|
| Board retainer (cash) | $50,000 per year | Paid quarterly, pro‑rated if elected mid‑year |
| Chairman retainer (cash) | $110,000 per year | Applies to Board Chair |
| Audit Chair retainer | $15,000 per year | Committee chair fee |
| Compensation Chair retainer | $10,000 per year | Committee chair fee |
| Nominating & Governance Chair retainer | $10,000 per year | Committee chair fee |
| Annual RSU grant | $80,000 grant‑date value | Vests by next annual meeting or first anniversary; pro‑rated if mid‑year |
Illustrative pro‑rated 2024 director grants:
| Director | Fees Paid (2024) | Stock Awards (2024) | Total |
|---|---|---|---|
| Erez Lorber (appointed Aug 15, 2024) | $12,785 | $61,087 (RSUs) | $73,872 |
| Nava Swersky Sofer (appointed Dec 5, 2024) | $0 | $37,937 (RSUs) | $37,937 |
Performance Compensation
- Directors: No performance‑conditioned pay for directors is disclosed; director RSUs are time‑vested (no performance metrics), and no option awards are indicated for directors in the NEDC Plan .
Other Directorships & Interlocks
- Public company boards: None disclosed for Altman; his background is executive management, not directorships .
- Interlocks: No related‑party or interlocking relationships involving Altman are disclosed; VPG’s committees are independent and administer a formal Related Party Transactions Policy (see policy overview below) .
Expertise & Qualifications
- Finance leadership: >25 years executive finance experience across large global industrial and health‑care entities; CFO roles at Remilk and Teva Generics; EVP & CFO at ICL Group .
- Technical/industry breadth: Experience spans specialty minerals, pharmaceuticals, and enterprise software/services, strengthening oversight of capital allocation and operational finance .
- Credentials: CPA; undergraduate and master’s degrees from Bar‑Ilan University .
Equity Ownership
- Beneficial ownership: Altman is a nominee and not listed in VPG’s beneficial ownership table for March 24, 2025; no shares or RSUs are disclosed for him prior to election .
- Ownership alignment policy: VPG prohibits hedging/pledging of Company securities, enhancing alignment for directors and officers .
Governance Assessment
- Independence and committee‑ready profile: Altman will qualify as independent, with deep CFO experience and CPA credentials that align well with Audit Committee needs; actual committee assignments will be determined post‑election .
- Pay structure: Director compensation emphasizes equity via annual RSUs (time‑vested) alongside modest cash retainers, which supports long‑term alignment without short‑term performance risk in director pay .
- Conflicts/related parties: No Altman‑specific conflicts disclosed; VPG’s Nominating & Governance Committee administers a strict Related Party Transactions Policy with pre‑approval and recusal requirements .
- Voting control context (Board effectiveness risk): Significant Class B voting concentration exists via the Zandman family trust and related agreements, collectively controlling roughly 27–35% of total voting power, which can influence director elections and governance outcomes; this is not Altman‑specific but relevant to investor confidence in Board independence .
- Red flags: None disclosed for Altman (no legal proceedings, related‑party transactions, hedging/pledging, or attendance issues); corporate‑level safeguards include hedging/pledging prohibitions and a Dodd‑Frank‑compliant clawback policy .
Additional context: Board changes during 2024–2025 included the resignation of Wesley Cummins (June 14, 2024) for external business commitments and Marc Zandman (effective immediately before the May 21, 2025 annual meeting) to focus on Vishay Intertechnology—both not due to disagreements—resulting in a reduced Board size to seven, with Altman nominated to join .